BlackRock's Bitcoin Assets Surpass MicroStrategy's Accumulations
Date: 2024-03-10 Author: Dima Zakharov Categories: BUSINESS
BlackRock's Bitcoin Buying Spree
In a significant move, BlackRock, the renowned asset management firm, has stirred up the cryptocurrency market by accumulating bitcoins, surpassing the holdings of MicroStrategy, a prominent figure in the crypto investment realm.
BlackRock's Bitcoin Holdings Surpass MicroStrategy's
Recent reports from HODL15Capital indicate that BlackRock's bitcoin assets have exceeded those of MicroStrategy. The data from Arkham Intelligence reveals that BlackRock experienced its highest-ever one-day influx of funds in a week, adding a staggering 12,600 BTC to its portfolio, totaling $842 million in bitcoin reserves. This accumulation has propelled BlackRock's bitcoin holdings to 183,300 BTC, valued at $12.3 billion.
Growing Bitcoin ETF Inflows
BlackRock's massive bitcoin purchases come amidst a surge in funds flowing into spot bitcoin ETFs. On March 5th, iShares Bitcoin Trust (IBIT), a bitcoin ETF by BlackRock, saw a record influx of $788 million, surpassing the previous high by $612.1 million.
MicroStrategy's Ongoing Bitcoin Acquisitions
While BlackRock dominates the recent headlines, MicroStrategy continues its bitcoin buying spree. Last month, the company purchased an additional 3,000 tokens worth $155 million, at an average price of $51,813 per coin, bringing its total holdings to 193,000 BTC.
BlackRock's substantial investments in bitcoin signal a growing institutional interest in cryptocurrency, further solidifying bitcoin's position as a valuable asset in the financial landscape.
